Digital Banking Quiz

What is the primary focus of digital banking?

• Only mobile banking services

• Traditional banking methods

• All aspects of banking that rely on modern technology

• Physical branch banking

Which of the following is a key feature of mobile banking?

• Requires a physical bank visit

• Conducts financial transactions remotely using a mobile device

• Only available during business hours

• Does not require internet access

What does a payment gateway do?

• Processes transactions for e-businesses

• Stores customer data

• Provides loans to customers

• Manages bank accounts

What is a significant risk associated with digital banking?

• Increased physical bank visits

• Fraud and cybercrime

• Higher interest rates

• Limited access to funds

Which technology is used for contactless payments?

• Wi-Fi

• Near Field Communication (NFC)

• Bluetooth

• Infrared

What is the main purpose of blockchain technology in banking?

• To provide physical security

• To eliminate all forms of banking

• To increase transaction fees

• To create a digital ledger of transactions

Which of the following is NOT a type of mobile payment technology?

• Sound wave-based payments

• Magnetic Secure Transmission (MST)

• QR code payments

• Paper check payments

What is a key difference between mobile banking and digital banking?

• Mobile banking includes all banking services

• Digital banking is only available on desktop computers

• Digital banking does not require internet access

• Mobile banking is only available on mobile devices

What is the role of miners in blockchain technology?

• To manage customer accounts

• To evaluate and verify proposed transactions

• To provide customer service

• To create new banking regulations

Which of the following is a benefit of using mobile wallets?

• They require physical cash

• They are only available for online purchases

• They do not require any authentication

• They can store various payment methods securely